Find every term and definition starting with the letter "j" in the ConsumerSavings.org mortgage loan glossary…

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Glossary of Mortgage Loan Related Terms

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Jumbo Loan

A loan which is larger (more than $214,600 as of 1/1/97) than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Because jumbo loans cannot be funded by these two agencies, they usually carry a higher interest rate.